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The Appraisal Institute Education Trust recognizes individuals that make significant contribution to the valuation profession.  Winners are recognized at the AI Annual Conference.

The Appraisal Institute Education Trust wishes to congratulate the 2017 honorees:

Y.T. and Louise Lee Lum Award

The Y.T. and Louise Lee Lum Award was established in 1963 and honors Y.T. Lum, a prominent member of the American Institute of Real Estate Appraisers, an internationally known speaker and authority on real estate, and his wife, Louise Lee.

The purpose of the Y.T. and Louise Lee Lum Award is to recognize one or more worthy individuals who have made a distinguished contribution to the appraisal profession during the immediate preceding year. The Y.T. and Louise Lee Lum Award is open to both Appraisal Institute individuals, as well as those that do not belong to the Appraisal Institute. The Y.T. and Louise Lee Lum Award is given in recognition of and great appreciation for the distinguished contribution* to the furtherance of the high ideals of the profession of real estate appraising and practices, mindful of the fact that this contribution was possible only through the zeal, uprightness, sacrifice, devotion, acumen and ability of the contributor.

Lum Award Requirements:
  • Please provide a letter of recommendation
  • A resume of the nominee
*"Distinguished contribution to the appraisal profession” means any activity which directly and measurably tends to advance the knowledge, education and techniques in the fundamentals, principles and practices in the appraising of real estate; to further enhance the high ethical and intellectual standards of the Institute; and to maintain and expand the important and honorable services, practices and functions of the real estate profession. 

Please submit all letters of recommendation and resumes to The nomination process for 2018 is now closed, for the Y.T. and Louise Lee Lum Award, which recognizes individuals who have made distinguished contributions* to the valuation profession during the immediate preceding year.  Please check back in early 2019 for more information.

For a list of past winners, click here.

George L. Schmutz Award

The George L. Schmutz Award was established in 1959 by the American Institute of Real Estate Appraisers “to recognize an outstanding technical manuscript or publication on real estate valuation regardless of the author’s occupation, affiliation or publisher.”

The award recipient is recommended by the Appraisal Institute Publications Review Panel to the AIET Trustees for approval.

For a list of past winners, click here.

Dr. William N. Kinnard, Jr. Award

The Dr. William N. Kinnard, Jr. Award was established by SREA to honor Dr. William N. Kinnard, Jr.

The purpose of this award is to recognize professionalism in education by a worthy academic instructor or administrator, or an individual or a program that contributed to the education, knowledge, professionalism or development of the real estate appraisal field.

The recipient is determined by the Trustees of AIET.

Nominations are received from the Education Committee and the AI education staff.

For a list of past winners, click here.

James H. Pritchett Award

The James H. Pritchett Award was created in 2002, in memory of the late James Pritchett. Each year, the award recognizes a Designated Member of the Appraisal Institute for outstanding contributions to the appraisal education or mentoring with a focus on litigation and condemnation. The ideal candidate is someone similar to Mr. Pritchett: exceptional work in teaching, writing, mentoring and professional practice in litigation support and eminent domain.

The AIET Trustees receive and review a nomination from Pritchett, Ball and Wise.

For a list of past winners, click here.

The AI Education Trust is proud to sponsor the following awards presented by The Appraisal Journal Editorial Board.

Armstrong/Kahn Award

The Appraisal Journal’s Armstrong/Kahn Award is part of a long tradition of article awards.

The Robert H. Armstrong Award was first presented in 1963. It was named for Robert H. Armstrong, MAI, who served as Editor-in-Chief and Managing Editor of The Appraisal Journal from 1945–1955. The award was given each year for the best original article published in The Appraisal Journal.

Sanders A. Kahn, PhD, SREA, served as Chair of The Real Estate Appraiser & Analyst (TREA) subcommittee in 1980–1981 and 1984–1985. In 1984, he established an annual manuscript prize to honor the author who developed the best example of thought-provoking presentation on concepts and practical problems facing the appraisal and real estate industries. This manuscript competition was underwritten by the Society of Real Estate Appraisers (SREA) Foundation (later renamed the Society of Real Estate Appraisers Education Trust).

The Appraisal Journal carried on this TREA tradition when it began presenting the Sanders A. Kahn Award in 1993 for articles offering a thought-provoking look at practical problems. In 1997, the Armstrong Award and the Kahn Award were combined to become the Armstrong/Kahn Award. The Appraisal Institute Education Trust funds the monetary prize for the Armstrong/Kahn award.

Swango Award

The Swango Award is named for past The Appraisal Journal Editor-in-Chief, Dan L. Swango, PhD, MAI, SRA. 

The Swango Award is presented for the best original article published in The Appraisal Journal during the previous year on residential or general appraising, or technology-related topics, or for original research of benefit to real estate analysts and valuers. The article must be practical in nature and address issues useful to appraisers in their day-to-day practice. Articles eligible for this award must be written by appraisal practitioners, i.e., individuals who perform real estate appraisals as their primary profession.

Richard U. Ratcliff Award

The Richard U. Ratcliff Award was created in 2008 to recognize the important relationship between academics and valuation professionals in the development of valuation thought.

The Richard U. Ratcliff Award is presented annually for the best original article published in The Appraisal Journal written by an academic author. Articles are judged on the basis of pertinent appraisal interest, provocative thought, logical analysis, perceptive reasoning, clarity of presentation, and overall contribution to the literature of valuation. To be eligible for this award, an article must have been peer reviewed by members of The Appraisal Journal’s Academic Review Panel and the principal author must be primarily engaged in teaching at a college or university.